Note 5. Other and Intangible Assets, net

Other and intangible assets, net, consisted of the following amounts (in thousands):


	March 31,		December 31,
	2016		2015
	(unaudited)
Goodwill	$	66,826	$	66,826

Gaming license (indefinite-lived)	$	482,074	$	482,074
Trade names		9,800		9,800
Loyalty programs		7,700		7,700
Subtotal		499,574		499,574
Accumulated amortization trade names		(2,940)		(2,462)
Accumulated amortization loyalty programs		(5,803)		(5,079)
Total gaming licenses and other intangible assets	$	490,831	$	492,033

Land held for development	$	906	$	906
Other		5,877		6,048
Total other assets, net	$	6,783	$	6,954

Goodwill, the excess of the purchase price of acquiring MTR Gaming over the fair market value of the net assets acquired, in the amount of $66.8 million was recorded as of March 31, 2016. For financial reporting purposes, goodwill is not amortized, but is reviewed no less than annually or when events or circumstances indicate the carrying value might exceed the market value to determine if there has been an impairment in the recorded value.

Included in gaming licenses is the Eldorado Shreveport gaming license recorded at $20.6 million at both March 31, 2016 and December 31, 2015. The license represents an intangible asset acquired from the purchase of a gaming entity located in a gaming jurisdiction where competition is limited, such as when only a limited number of gaming operators are allowed to operate. Also included in gaming licenses are the gaming and racing licenses of Mountaineer, Presque Isle Downs and Scioto Downs totaling $482.1 million, which reflects the fair value of the licenses calculated as of March 31, 2016 and December 31, 2015. Gaming license rights are not subject to amortization as the Company has determined that they have an indefinite useful life.

Trade names are amortized on a straight‑line basis over a 3.5 year useful life and the loyalty program is amortized on a straight‑line basis over a one year useful life. Amortization expense with respect to trade names and the loyalty program amounted to $1.2 million and $1.9 million, respectively, for the three months ended March 31, 2016 and 2015, which is included in depreciation and amortization in the consolidated statements of operations. Such amortization expense is expected to be $3.3 million during the remainder of 2016, $1.9 million for the year ended December 31, 2017, and $0.4 million for the year ended December 31, 2018.